TECHNIQUES BUSINESS TRENDS The State Of Stock Photography Today STILL A VIABLE OPTION? THESE PROS THINK SO BY MARIA PISCOPO

HAT IS “STOCK” photography, and how can it be a source of revenue? First, let’s define some Wterms. In most cases, rather than selling an image in the stock photo market think “license,” as stock images are not really sold—they are licensed for a particular use. The larger agencies all license Rights Managed (RM) images and many Royalty Free (RF) agencies will offer a “removal from market” option if an exclusive license is needed by the client. Microstock and subscription downloads are appealing to photography clients, though perhaps not so much to photographers. The term “microstock” is said to have been derived from the “micro-payment” the client makes for the image, which morphed into microstock. Subscription-based is the newest business model and the short version is that clients purchase a Photos © Leland Bobbé monthly or pay-on-demand subscription to download X number of images per day depending on the payment plan. Our aim here is to tell you about the side of stock that might actually be a viable part of your photo business, although the reality check, as usual in this column, remains in place. As you will see from our interviews with photographers marketing their images, working with a good stock agency and offering great images are all integral parts of a successful stock business. Thanks go to the photographers interviewed for this column (their website resources are at the end of this article): Leland Bobbé, Shannon Fagan (FangXiaNuo Technology Consulting Co. Ltd.), Jon Feingersh, Tom Grill, John Lund, and Trinette Reed (Trinette Reed + Chris Gramly). SHUTTERBUG: What are the benefits/ disadvantages of using a stock agency vs.

86 | MAY | 2014 TECHNIQUES BUSINESS TRENDS licensing your own stock photos? TOM GRILL: At this point in the stock photography industry it is nearly impossible to drive enough traffic to your own site to make any kind of meaningful income. It is far more lucrative to market your images through an agency, regardless of the cuts and percentages. Photographers tend to get very hung up on giving up percentage points, but if the end user cannot find you, there will be no sale in the first place. The big agencies have the money to maintain effective websites and do the marketing required to sell pictures in this day and age.

JOHN LUND: I make so many sales Photos © Shannon Fagan through agencies that I would never have the time, nor the interest, in dealing with handling my own sales. All I want to do is make images (and money) and let someone else deal with negotiating, marketing, and all the other hassles of the business end. Sure, I get a smaller percentage, but I make far more money than I could selling the imagery myself, with none of the problems. I do sell some myself, which keeps me aware of how much I like to have my work with the agencies. LELAND BOBBÉ: In theory it would be great to sell your own stock photography and keep 100 percent of the license fee. However, in reality I think it would be very hard to get the traffic to your own stock site necessary to make any real money unless the photography is highly specialized and very specific. In addition, there would have to be much effort put into search engine optimization. I believe it would be just Corbis, Shutterstock, Blend Images, The use of an agent is advantageous too hard to compete with distributors and others are all having problems for the freedom that it provides to like Getty and Corbis and many of the gaining—or even retaining—their the production unit/photographer microstock sites. market share, there is no possibility to focus on their technique, TRINETTE REED: We prefer using agencies of making enough sales directly to management, and creation of images. because we have found it to be too justify the attempt to do so. There are more “direct” licensing much work trying to set up a website, SHANNON FAGAN: We operate in Mainland options coming online, including generate traffic, and deal with China where direct licensing requires PhotoShelter, liveBooks, and customers directly. There is so much significant infrastructure to handle newcomer LightRocket. All of these behind-the-scenes work that goes governmental media controls, are non-exclusive options that allow into creating a successful outlet for financial accounting differences, legal for a contributor to license through selling stock photos and it is not what differences, as well as longer sales their platforms at generally higher we like to spend our time doing; we cycles. Using a licensing agent locally royalty rates than other traditional would rather be out shooting and is a crucial working relationship stock agencies, including microstock. creating content. decision and a protective measure For financial reasons and volume JON FEINGERSH: There is no benefit for the business model. Globally, of downloads, these direct licensing whatsoever in trying to market your I continue to support using stock options are best pursued with the own photographs. When Getty, agencies for licensing one’s content. non-exclusive arrangements that they

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provide in conjunction with standard assumed that all images had less value. licensing options through other Microstock is the lowest common stock agencies. denominator of visual quality and SB: How do you think microstock factors into craftsmanship. And anyone who the state of stock photography today? thinks they can make any income JON FEINGERSH: As an old-timer who used in that distribution model should be to love the “golden days” of mostly RM advised, that train has already left stock, I have always had a dislike of the station. distribution models that cheapened TOM GRILL: Microstock is the vehicle the value of stock photographs. RF that has allowed amateurs to get their was the first slide down this slippery images into the marketplace. This slope, and microstock accelerated has created pricing competition for the downward pressure on pricing. the low end of stock photography. The This was caused by several reasons, simple, cheaply produced, and “found” but mostly photographers felt that photography that professionals used they could produce images for the to be able to sell for good money has marketplace and customers who mostly been co-opted by microstock. saw cheaper and cheaper prices This means that professional

SHUTTERBUG | 89 TECHNIQUES BUSINESS TRENDS photographers who shoot a wide variety of subject matter must earn all of their income from highly produced images. Now, pros have to spend all their time on high-end productions and forego that easy income that used to balance out the effort and time/ money spent to shoot. The best stock photographers make substantial investments of time, money, and talent in their product. A substantial return is necessary to support this business model. Most microstock agencies, due to their low pricing model, do not return Photos © Tom Grill Images enough to make this business model possible. As a result, the better stock photographers must seek more traditional outlets for their product where images sell for more. Now more than ever that product has to have a premium look to hold a high price line. While the majority of stock imagery today is sold into a low-priced market through microstock, buyers are still willing to pay for a product that is unique and a substantial cut above the norm. JOHN LUND: Microstock is just the low end of RF, and was inevitable. The advent of microstock, as RF before it, has brought down the prices of all imagery. I wouldn’t say it is good or bad, it just is and we all have to deal with it as best as we can. Obviously, microstock has opened the doors to all kinds of people, made a few quite a lot of money, and increased the challenges of making a living at shooting stock. While I don’t shoot microstock I do have RF images that have found their way into the high-end microstock (think Vetta) collections through Getty and Blend. My admittedly limited experience reaffirms my belief that I am far better off not producing microstock work. SHANNON FAGAN: I might rephrase the question as: how does subscription licensing factor into the state of stock photography, since this business appears to be remarkably stable. time and money spent to develop a model is on a large upswing in the The caveat is that though stable, it unique production. Contributors last two years and is being reflected is not necessarily sustainable. It is will all probably agree with me that in other e-commerce businesses for sustainable for the licensing agents, agencies are rejecting basic imagery software, professional networking but for the creators it presents no more than ever before, citing that sites, online dating sites, television viable option to recoup money spent an overabundance of supply of and movie video access, news sites, for responsible investment on such imagery already exists. Travel and more? Subscription income, content production. imagery falls into this category of though perhaps less than individual Creating imagery that sells overabundance, also still life, and downloads per image licensing, requires research and development practically anything shot on a white

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background. Even at the most robust imagery that is outdated or subscription levels for downloads, non-sellers in traditional collections) the amounts of money earned is is automatically moving to low-priced not enough to match up with costs collections; and often by default that of models, locations, props and includes in one form or another a wardrobe, and the time and labor subscription priced licensing model. expenses of postproduction The future requires that most and submission. contributors look at subscription The important thing to recognize as one more licensing type on is that a significant and growing top of selling into other forms of portion of microstock licensing (and licensing models at the same time. a hefty portion of traditional Diversification of submission licensing) is moving to subscription. strategy is important on the part Nearly all downgraded imagery (i.e., of the contributor. It would not be

SHUTTERBUG | 91 TECHNIQUES However, the concept must be a beach can be a concept stock and/ wrapped in an outer shell of an image or a lifestyle shot. Rather than saying that is unique, well crafted, well this or that sells the best, I would BUSINESS TRENDS styled, and contains other elements of say that images that tell a message premium content such as good models, and either have an emotional pull or recommended at this time in stock locations, and props. A good concept are highly entertaining sell the best. photography that contributors be alone will not sell a mediocre photo, Among the generalities that I have reliant on exclusive relationships in and the day of making a living in stock found most true in my own experience licensing. More than ever, having one photography by simply replicating the are: positive sells better than negative; image appear everywhere is crucial core concepts with banal photography images with action sell better than for sustained financial success. is over. To stand out you have to create static ones; business images and Microstock’s birth and emergence has images that are best of breed to rise lifestyle both can sell extremely well; taught the industry a lesson in that. above the clutter. and images that are seen sell the best! SB: What kinds of images do you think work People photography is still quite LELAND BOBBÉ: There are so many types the best as stock? The word “concept” is weak in microstock. If you can execute of images that have the potential to tossed around a lot so our readers would a great family shoot and capture the sell well in stock, from complex CGI like specifics for building their stock library everyday moments like sharing time to simple portraits. I think the most shot list. together, eating together, playing important thing is that the image has TOM GRILL: Actually, I was the person and working together, you will do something that people can relate to, who introduced the idea of shooting well with the shoot if you use fresh, that makes an emotional statement “concepts” into the stock photography contemporary styling, excellent that is able to illustrate a certain lexicon in the first lecture I gave at direction, thoughtful lighting, and idea or concept. Within the different Photo Expo in New York, and California so on. To determine what will sell, areas of stock be it business, romance, in the early 1980s. Prior to that, stock photographers must keep aware of medical, lifestyle (senior living, kids, photography was entirely subject current trends and demographics. teens, romance, families, holidays, driven. Since then the idea of shooting Topics that are really needed out travel), the image needs to stand out concepts for stock photography has there right now are: seniors/boomers, from the glut of imagery available gone viral, but is often mistaken as the industry/engineering/energy, today. Great casting of people and only element necessary for a successful people living an urban lifestyle, and models is essential. stock photo. Concepts are at the core healthcare topics. TRINETTE REED: Right now, authentic and of any good stock photo intended for JOHN LUND: “Concept” is a tricky word. believable are the two most important commercial use. A shot of a woman walking alone on things when creating content for stock

92 | MAY | 2014 Photos © Trinette + Chris for agencies with higher price points. from our collective knowledge of As far as microstock, it’s all about what someone should feel or look like volume and feeding the machine. I (generally from our vast knowledge think all the obvious concepts like of blockbuster movies and cartooning family or business are concepts that for decades). The more caricature it customers are always looking for. is, the better it tends to sell, and that JON FEINGERSH: One only has to look does not mean always the strongest, around to see the huge number of prettiest, and fittest will survive! images that sell in stock. Open any We are finding that any classic newspaper or magazine (if you’re the take on any subject tends to sell kind of person who still does that particularly well and outperforms sort of thing) and look at every image the standard “tall and handsome” used. Most will be happy, smiling profiles. One of our best sellers in RM people doing some sort of activity. this year for the number of sales that Each image certainly must have a it generated is a plus size individual’s “concept” in order for the picture portrait for usage in health campaigns buyer to feel it will communicate the and fitness articles. On the flip side, desired message. But for me, even the best-selling shot financially in more important than “concept” is the terms of the largest amount of money idea of “resonance.” Resonance is that generated is for a robust group of quality in a visual which causes the business types that look and feel their viewer to identify with the image (or age from 20s to 40s. None of them parts or symbols within the image), were actual models, and none of them and bring to the image a cultural had ever modeled before stepping foot understanding and reinforcement in front of our cameras. of cultural expectations and The global market is asking for experiences. When a photograph real people now. To anticipate this contains the correct icons, symbols, need and work with it, contributor action, etc., a resonant experience suppliers are best advised to position is caused, and one can reasonably their businesses to make use of the expect the consumer to have a similar availability of the people around experience and be predisposed to them, make casting techniques the message. that are focused on recruitment to SHANNON FAGAN: Image use is getting the operation, and harness people more “real” all the time. Models interaction and communication skills don’t look like models, but rather like to make productions fun, engaging, caricatures of stereotypes generated and interactive.

WEB RESOURCES

CONTRIBUTORS ■■Leland Bobbé: www.lelandbobbe.com, www.lelandbobbe.zenfolio.com ■■Shannon Fagan: www.shannonfagan.com ■■Jon Feingersh: www.jfstudio.com ■■Tom Grill: www.tomgrill.com, http://aboutphotography-tomgrill.blogspot.com ■■John Lund: www.johnlund.com ■■Trinette Reed: www.trinettereed.com

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